RANDGOLD RESOURCES LIMITED
Incorporated in Jersey, Channel Islands
Reg. No. 62686
LSE Trading Symbol: RRS
Nasdaq Trading Symbol: GOLD
("Randgold Resources" or "Randgold")
KIBALI TO CREATE ECONOMIC VALUE FOR WHOLE DRC
Lubumbashi, 31 January 2013 - The giant Kibali gold project currently
being developed in the Democratic Republic of Congo will bring lasting
economic benefits to the whole country, says Randgold Resources chief
executive Mark Bristow. Randgold, which owns 45% of the project, is
developing and will operate the mine scheduled to produce its first
gold by the end of this year.
The project is already providing employment to some 6000 Congolese,
and 12 Congolese contractors have been appointed to construct the new
model village of Kokiza and to maintain the recently upgraded roads
around the mine. Some 1800 families have been relocated to date from
the mine site to nearby Kokiza, where new houses are being built at the
rate of 45 per week.
Bristow said this showed the multiplier impact mining could have on
emerging economies. Not only will Kibali return about half of its
revenue to the state in the form of taxes, royalties and dividends, it
will also create substantial economic value through the provision of
goods and services as well as generating jobs, transferring skills and
uplifting the community through quality of life initiatives.
Open pit mining is already underway at Kibali to build up ore
stockpiles before the start of production and the plant is also taking
shape with the recent installation of the two mills. Development of
both underground declines has started and the parallel development of
the vertical shaft is progressing well and the first of four hydropower
stations which will supply electricity to the mine is under
construction.
The combined open pit and underground mining operation has an estimated
life of 20 years and plans to produce an average of more than 600000
ounces per year between 2014 and 2023, making it one of the largest
gold mines in the world."We could not have advanced this project so rapidly
had it not been for
our productive partnership with the DRC government and the local
community," Bristow said. "At a time when the government is reviewing
the country's mining code, we trust any changes will not discourage
further investment but will reinforce the current code's stability and
focus on reducing the administrative burden on the mining industry,
promoting investment which would create more economic value and greater
tax revenues for the state," Bristow said.
RANDGOLD RESOURCES ENQUIRIES:
Mark Bristow, Willem Jacobs,
Kibali chairman & Randgold Randgold GM operations Central &
Resources CEO East Africa
+223 6675 0122 / +44 788 071 1386 +243 991 001 222
Louis Watum, GM Kibali Goldmines
+243 994 035464 / +243 817 153 062 Kathy du Plessis,
Randgold investor & media relations
+44 20 7557 7738 /
randgoldresources@dpapr.com
Website: www.randgoldresources.com
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: Except for the
historical information contained herein, the matters discussed in this
news release are forward-looking statements within the meaning of
Section 27A of the US Securities Act of 1933 and Section 21E of the US
Securities Exchange Act of 1934, and applicable Canadian securities
legislation. Forward-looking statements include, but are not limited
to, statements with respect to the future price of gold, the estimation
of mineral reserves and resources, the realisation of mineral reserve
estimates, the timing and amount of estimated future production, costs
of production, reserve determination and reserve conversion rates.
Generally, these forward-looking statements can be identified by the
use of forward-looking terminology such as 'will', 'plans', 'expects'
or 'does not expect', 'is expected', 'budget', 'scheduled','estimates',
'forecasts', 'intends', 'anticipates' or 'does not
anticipate', or 'believes', or variations of such words and phrases or
state that certain actions, events or results 'may', 'could',
'would','might' or 'will be taken', 'occur' or 'be achieved'. Assumptions
upon
which such forward-looking statements are based are in turn based on
factors and events that are not within the control of Randgold and
there is no assurance they will prove to be correct. Forward-looking
statements are subject to known and unknown risks, uncertainties and
other factors that may cause the actual results, level of activity,
performance or achievements of Randgold to be materially different from
those expressed or implied by such forward-looking statements,
including but not limited to: risks related to the integration of
Randgold and Moto, risks related to mining operations, including
political risks and instability and risks related to international
operations, actual results of current exploration activities,
conclusions of economic evaluations, changes in project parameters as
plans continue to be refined, as well as those factors discussed in the
section entitled 'Risk Factors' in Randgold's annual report on Form
20-F for the year ended 31 December 2011 which was filed with the US
Securities and Exchange Commission (the 'SEC') on 31 March 2012.
Although Randgold has attempted to identify important factors that
could cause actual results to differ materially from those contained in
forward-looking statements, there may be other factors that cause
results not to be as anticipated, estimated or intended. There can be
no assurance that such statements will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not place
undue reliance on forward-looking statements. Randgold does not
undertake to update any forward-looking statements herein, except in
accordance with applicable securities laws. CAUTIONARY NOTE TO US
INVESTORS: the SEC permits companies, in their filings with the SEC,
to disclose only proven and probable ore reserves. We use certain
terms in this release, such as 'resources', that the SEC does not
recognise and strictly prohibits us from including in our filings with
the SEC. Investors are cautioned not to assume that all or any parts
of our resources will ever be converted into reserves which qualify
as'proven and probable reserves' for the purposes of the SEC's Industry
Guide number 7.
This information is provided by RNS
The company news service from the London Stock Exchange
END

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